Kuwait advances major projects in 2026-2027 budget
Kuwaiti Finance Minister Yaqoub Al-Rifai presented a roadmap to stimulate economic activity, fiscal sustainability, and create sustainable job opportunities for Kuwaiti nationals in private sector
Kuwait is making progress in executing airport expansions and other significant projects as part of a stimulus package designed to alleviate the impact of regional hostilities.
Kuwaiti Finance Minister Yaqoub Al-Rifai presented a roadmap to stimulate economic activity within the country, enhance fiscal sustainability, and create more sustainable job opportunities for Kuwaiti nationals in the private sector.
He noted that the increased investment spending in the current budget stems from the expansion of strategic projects, most notably the new airport terminal, the Mubarak Al-Kabeer Port, the expansion of the Umm Al-Hayman wastewater treatment plant, the Kabd North wastewater treatment plant, and the expansion of Kuwait International Airport (Terminal 2) and the development of its connecting roads.
These initiatives reflect support for infrastructure development, improved efficiency of public services, and enhanced productivity in vital sectors, he told the official Kuwaiti news agency KUNA.
Kuwait’s budget for the 2026-2037 fiscal year, which started on 1 April, forecast revenues at US $53.8bn and expenditure at $86.2bn, with a projected shortfall of $32.0bn. The finance ministry said early this year that the budget is based on a conservative average oil price of $57a barrel, far below the $68 price assumed in the 2025-2026 budget.
Capital spending was projected at around $10.3bn, nearly 12% of the total expenditure, it said, adding that it would be mostly allocated to those projects.
